The Features of Functioning of Cryptocurrency «Bitcoin»

Abstract

The features of functioning of the innovative currency «bitcoin» in different world countries, methods of its extraction and storage are researched. The possibility of using bitcoin by Ukrainian consumers of services is considered. Advantages and disadvantages of its use in comparison with fiat money are identified. The possibility of outflow of fiat money from the real sector of economy into the shadow sector due to interaction and exchange of fiat money for non-fiat money is substantiated. The dynamics of value of bitcoin and capitalization of the market by years in the timespan of 2015–2018 are disclosed. The value of bitcoin is predicted using the polynomial function of the fifth order trend. The forecast value of the value of bitcoin as to September 2018 is received at the level of 7528–8285 USD.

Keywords

• cryptocurrency
• bitcoin
• blockchain
• exchange
• fiat money
• trend
• bitcoin value